PBBM hopes to witness signing of business deals in California
President Ferdinand R. Marcos Jr., with First Lady Louise Araneta-Marcos, Speaker Ferdinand Martin G. Romualdez, and members of the Philippine official delegation, meets with Filipino community at South San Francisco Conference Center in San Francisco, California, USA on Tuesday (US time). (Photo courtesy of Presidential Communications Office)
SAN FRANCISCO, CALIFORNIA — President Ferdinand Marcos Jr. hopes to witness the signing of agreements with various American businesses in the fields of digital infrastructure and connectivity, renewable energy, electronics manufacturing, health, and tourism during his four-day visit to California.
The President remarked on Tuesday (Pacific Standard Time) after he arrived in San Francisco, California to attend the 30th Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting.
"We hope that by the end of our four-day visit to San Francisco, we will have witnessed the signing of agreements with various American businesses in the fields of digital infrastructure and connectivity, renewable energy, electronics manufacturing, health, and tourism, among others," Marcos said during his meeting with the Filipino community here.
The President underscored the Philippines' active participation in APEC since its inception in 1989, highlighting the country's belief in a more integrated and inclusive Asia-Pacific region that will bring about economic prosperity for its people. He added that hosting APEC twice, in 1996 and 2015, demonstrates the country's commitment to free and fair trade in the region.
"We are excited to be here in San Francisco, the global center of high technology and innovation," Marcos remarked. "We would like to attract more investments and increase foreign direct investments in the Philippines."
The President cited the upward trend of investments from the United States, reaching $6.2 billion in 2022, a 15.7-percent increase from 2021.
He also emphasized California's importance as a trade and investment partner of the Philippines, noting that the state is the most popular destination for greenfield investment in the country.
"On the sidelines of the APEC meetings, my delegation will conduct business meetings in San Francisco to seek mutually beneficial exchanges and partnerships," Marcos said.
"Our presence in the Bay Area this week also supports the development of the Philippine innovation ecosystem, in line with the National Innovation Agenda Framework," Marcos added.